Trans Power N.Z.

Listing Particulars

Trans Power New Zealand
18 December 2002


FORMAL NOTICE FOR SPECIALIST SECURITIES

PUBLICATION DATE:            18 December 2002

Application has been made to the UK Listing Authority for the following securities to be admitted to the Official List.

DETAILS OF ISSUE:            US$1,000,000,000 Guaranteed Euro Medium Term Note Programme

ISSUER:                      Transpower New Zealand Limited and Transpower Finance Limited

INCORPORATED IN:             New Zealand

GUARANTOR:                   Transpower Finance Limited

INCORPORATED IN:             New Zealand

Particulars relating to the issue may be obtained during usual business hours for fourteen days from the date of this
formal notice from:

Winchester House                                             Linklaters
1 Great Winchester Street                                    One Silk Street
London EC2N 2DB                                              London EC2Y 8HQ

In addition, a copy of the Particulars is available for inspection at the Document Viewing Facility at the Financial
Services Authority, 25 The North Colonnade, London E14 5HS.


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